Minerco Resources, Inc. Secures $2,000,000 Line of Credit to Fund Operations
May 07 2014 - 9:30AM
Marketwired
Minerco Resources, Inc. Secures $2,000,000 Line of Credit to Fund
Operations
HOUSTON, TX--(Marketwired - May 7, 2014) - Minerco Resources,
Inc. (OTCQB: MINE) (the "Company"), the parent company of Level 5
Beverage Company ("Level 5"), a specialty beverage company which
develops, produces, markets and distributes a diversified portfolio
of all-natural and highly functional brands, secures $2,000,000
financing in form of a traditional Line of Credit from Post Oak,
LLC.
This traditional $2,000,000 Credit Line with Post Oak, LLC will
allow us to fund our operations for the foreseeable future. This
credit facility allows us to draw down on the Credit Line on demand
and leaves us in control of our financial future. Additionally, the
Credit Line does not require an interest or principal payment for
12 months to allow us to establish significant sales and revenues
before the first interest payment is due.
The upcoming bi-coastal launch of VitaminFIZZ® and expansion of
COFFEE BOOST™ will be the first use of proceeds. The Herbal
Collection will also be further funded with the initial drawdown
from the credit facility. The flexibility Minerco and Level 5 gain
from this credit facility will further help us to responsibly
manage our upcoming growth and expansion. This flexibility will
allow the Company to grow / expand multiple brands, streamline
operations and realize revenues, simultaneously.
V. Scott Vanis, the Chairman and Managing Director of the
Company said, "We have been diligently working towards this type of
traditional credit facility for a long time. Our work has finally
paid off. This $2,000,000 Credit Line will allow the Company to
make business decisions without the distractions caused by less
traditional financing vehicles. The fact that we do not have any
payments due while we launch VitaminFIZZ® and expand COFFEE BOOST™
is only trumped by the fact that we do not have any conversions to
worry about. I would like to thank Post Oak and their team for
their confidence in our companies! We have earned this by operating
our business in a responsible manner, and we will continue to do
so. Only now we have added increased 'flexibility' and 'freedom' to
our business operations. We look forward to a long relationship
with Post Oak as we continue to set and attain our lofty
goals."
Investor Update Conference Call held on April 29, 2014 The
Company / Level 5 held an Investor Update Call on April 29, 2014.
We enjoyed interacting, directly, with our shareholders and thank
you for all the interest in our Company. We released the Official
Transcript of the Investor Update Call through a Current Report on
Form 8-K with the Securities and Exchange Commission, and the
Official Transcript will be available on our website at
www.minercoresources.com on the News page.
"The feedback received following the Update Call has been
overwhelming, but overwhelmingly positive. The Call and Webcast was
listened to by more than 2,000 unique participants or individuals.
We are very humbled and appreciative of all the interest in our
company. We discussed many topics in the Investor Update Call, and
we are in the process of following through on each piece in our
usual, systematic approach. I would like to direct all shareholders
to my closing statements of the Investor Update Call for my
feelings on their support. As always, we will keep you informed of
developments and opportunities at the soonest opportunity," stated
V. Scott Vanis, Chairman and Managing Director of the Company.
Public Disclosure Details of the Company's business, finances
and agreements can be found as part of the Company's continuous
public disclosure as a fully reporting issuer under the Securities
Exchange Act of 1934 filed with the Securities and Exchange
Commission's ("SEC") EDGAR database. For more information, please
visit: www.minercoresources.com.
The above statements have not been evaluated by the Food and
Drug Administration (FDA). These products are not intended to
diagnose, treat, cure or prevent any disease.
Safe Harbor Statement This release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Act of 1934 that are
based upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations and assumptions upon which they are based are
reasonable, we can give no assurance that such expectations and
assumptions will prove to have been correct. Some of these
uncertainties include, without limitation, the company's ability to
perform under existing contracts or to procure future contracts.
The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to
numerous factors and uncertainties, including without limitation,
successful implementation of our business strategy and competition,
any of which may cause actual results to differ materially from
those described in the statements. We undertake no obligation and
do not intend to update, revise or otherwise publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
any unanticipated events. Although we believe that our expectations
are based on reasonable assumptions, we can give no assurance that
our expectations will materialize. Many factors could cause actual
results to differ materially from our forward-looking
statements.
Please contact: Minerco Resources, Inc.
info@minercoresources.com V. Scott Vanis 888-473-5150
Minerco (CE) (USOTC:MINE)
Historical Stock Chart
From May 2024 to Jun 2024
Minerco (CE) (USOTC:MINE)
Historical Stock Chart
From Jun 2023 to Jun 2024